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Auto loan defaults fall
Published 12:00 am PDT Saturday, July 12, 2008
Story appeared in BUSINESS section, Page D1
Auto loan delinquencies in the Sacramento area and California declined in the first quarter but remained higher than the national average, according to TransUnion, the Chicago-based credit information company.
TransUnion said the 60-day auto delinquency rate in the Sacramento metropolitan area was 1.1 percent in the first three months of the year, down from 1.34 percent in the final quarter of 2007.
Statewide, 1.06 percent of loans were reported delinquent in the first quarter, compared with 1.3 percent in the final quarter last year.
Nationally, TransUnion said auto loan delinquencies declined 18 percent in the first quarter – 0.65 percent vs. 0.79 percent at the close of 2007. TransUnion said the percentage drop in the United States was the largest in four years.
California's rate of delinquencies ranked third nationwide, trailing Louisiana (1.19 percent) and Alabama (1.07 percent), respectively.
– Mark Glover
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